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Cardano Prices Spike As The Wider Markets Rallies

07 january 2019, 22:21 by John Kiguru

Cardano Prices Spike As The Wider Markets Rallies

As we reported earlier, the market has established a new trend of rallying at the start of a fresh week. This week has been no different as the wider market experienced explosive gains. In the late hours of Sunday, bitcoin began rallying and by early morning had broken past the $4,000 mark.

Altcoins followed the crypto leader’s movement and in a couple of hours, the total market cap was a little short of $139 billion. Leading the momentum among the altcoins is Cardano, EOS, and Litecoin.

For Cardano and Litecoin, the timing couldn’t have been better as the coins were already enjoying significant gains during the weekend. Cardano had already managed to climb from $0.042 on Friday to $0.046 on Sunday. Today’s gains see the coin breach the $0.050 mark. It is however unlikely that it will continue its dramatic rise since the market has begun slowing down at the time of press.

In the past seven days, Cardano has been steadily climbing the chart which could be a sign that 2019 is the year it hits its all-time high. On December 31, Cardano was being valued for a little over $0.041 and through a persistent run has climbed to a little over $0.050.

Among the reasons the coin is performing well is- it's naming as a leading project in the creation of Internet 3.0 by Weiss cryptocurrency ratings. According to Weiss, the project that succeeds in this “could someday be worth trillions of dollars in market cap” and Cardano has been for the longest time a great contender.
So far, Cardano has proven itself as a stable coin and one worth a position in the top 20 ranking. It still has a long way to go but there is every indication that it is one of the market’s best bet for the long run.

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